Standardisation is the only way forward for European financial reporting.’ Discuss this statement in the light of efforts that have already been made in the harmonisation of company law and the requirement for listed companies to follow IASs
Answers
In conclusion, while efforts have been made in harmonizing company law and the adoption of IASs/IFRS, it is important to recognize that complete standardization may not be achievable or desirable in all aspects of financial reporting. Striking a balance between standardization and accommodating local variations is crucial. Ultimately, the goal should be to achieve high-quality financial reporting that provides relevant and reliable information to investors and stakeholders.
The statement "Standardisation is the only way forward for European financial reporting" suggests that standardization is the sole solution for achieving consistent and comparable financial reporting across European countries. In discussing this statement, it is important to consider the efforts made in harmonizing company law and the requirement for listed companies to follow International Accounting Standards (IASs).
Harmonization of company law refers to the process of aligning legal frameworks and regulations governing corporate governance and financial reporting practices across different countries. The European Union (EU) has been actively involved in harmonizing company law to promote consistency and transparency in financial reporting. Efforts such as the implementation of the EU Accounting Directives aim to harmonize the accounting and financial reporting requirements for companies within the EU.
Additionally, the requirement for listed companies to follow International Accounting Standards (IASs), now known as International Financial Reporting Standards (IFRS), further supports the goal of standardization in financial reporting. The adoption of IFRS by EU member states has brought about a level of consistency and comparability in financial reporting practices, enabling investors and stakeholders to make informed decisions based on standardized financial information.
However, while standardization has its benefits, it is important to acknowledge that complete standardization may not be achievable or desirable in all aspects of financial reporting. Different countries have unique legal, cultural, and economic factors that can influence their financial reporting requirements. The EU recognizes this diversity and allows for certain options and exemptions within the framework of harmonized directives and IFRS adoption.
Furthermore, it is worth noting that standardization alone does not guarantee high-quality financial reporting. Effective enforcement mechanisms, rigorous auditing practices, and strong corporate governance are equally important in ensuring the reliability and integrity of financial information.
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Related Questions
which piano is the best for beginners? List 5 best pianoes.
Answers
Answer:
1:Yamaha YPT-269
2:Casio PX-770
3:Korg EK-50
4:Roland
5:Go:keys
Answer:
1. Yamaha P-45
2. Yamaha YDP-S34
3. Casio PX-770
4. Korg B1SP
5. Roland RP102
Explanation:
$10,000, they can be sold for a total of $30,000. As an alternative, the calculators can be sold in their present condition for $11,200. What is the financial advantage (disadvantage) to the company from upgrading the calculators
Answers
The financial advantage to the company from upgrading the calculators is $8,800 with upgrading cost as $10,000.
The financial advantage or disadvantage of upgrading the calculators can be determined by comparing the net profit from selling the upgraded calculators with the profit from selling them in their current condition.
Upgrading cost: $10,000
Sale price of upgraded calculators: $30,000
Sale price of calculators in their present condition: $11,200
Net profit from selling upgraded calculators = $30,000 - $10,000 (upgrading cost) = $20,000
Net profit from selling calculators in their present condition = $11,200
Financial advantage (disadvantage) = Net profit from upgraded calculators - Net profit from present condition calculators = $20,000 - $11,200 = $8,800
Hence, the financial advantage to the company from upgrading the calculators is $8,800.
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Why are files naming conversation essential
Answers
Without everyone using the same system, it would be impossible to know locate folders or files. Where would you go to set up margins on a letter? Which actions should be done throughout the mail merge process?
I Hope I Helped
What is cash flow?...................................
Answers
Answer:
Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business. At the most fundamental level, a company's ability to create value for shareholders is determined by its ability to generate positive cash flows, or more specifically, maximize long-term free cash flow
Explanation:
Chile is able to grow and harvest grapes and strawberries in the months of October through April, while in the United States such fruit is harvested from April through October. The United States has a much larger manufacturing capacity and ships durable goods such as cars and trucks to Chile. These examples can best be explained by
Answers
Answer: the economic principle of comparative advantage
Explanation:
Comparative advantage could be described as an economy's capability to produce a particular product at than the price competitor would offer. A comparative advantage could also be described as handling two jobs but being better in one than the other. One of the jobs could be primary duty while the other is secondary, one fetches income than the other which may or may not fetch an income or having a job that supplements the work you do for the other one
From the paragraph, both America and Chile farm fruit in their various reasons but United State does it better than Chile based on her massive manufacturing industry. The United states comparative advantage is her large manufacturing industry which helps her to be better than Chile in the fruit production.
a company's financial obligations to short-term creditors, which must be repaid within one year, are called its
Answers
The financial obligations that a company owes to short-term creditors, which must be paid within a year, are referred to as current liabilities.
What are these liabilities?Current liabilities include accounts payable, short-term loans, and accrued expenses, among other things. It's important for a company to manage its current liabilities well, as they represent the amount of money the company needs to pay back within the next 12 months.
Failing to meet these obligations could lead to financial difficulties for the company and a loss of trust from its creditors.
Managing current liabilities requires careful planning and monitoring of cash flow, as well as ensuring that the company has enough funds to cover its obligations.
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You plan to operate a basketball camp during the summer at Duke University. The total number of participants is 200. Camp participants will stay three nights in the university dormitories, and each room will house two camp participants. Duke charges you $40 per room each night. Liability insurance to run the camp will cost $3,000. Meals for the three day camp will cost $6,000. Duke will not charge you for the use of the basketball facility. Nike will provide sporting goods to be used by, and given to, participants. You and your partner each want to make $8,000 profit from running the camp. How much will you have to charge each participant to meet your goal?
Answers
Answer:
$245 per participant
Explanation:
total number of participants = 200
total costs for 200 participants:
$40 per night x 3 nights x 200 = $24,000 for rooms$3,000 for insurance$6,000 for mealstotal costs = $33,000
if you want to earn $16,000 in profits ($8,000 each),
price per participant = ($33,000 + $16,000) / 200 = $49,000 / 200 = $245
Banks and other financial institutions can best manage interest rate risk by _____.
A. maximizing the duration of assets and minimizing the duration of liabilities
B. minimizing the duration of assets and maximizing the duration of liabilities
C.matching the durations of their assets and liabilities
D. matching the maturities of their assets and liabilities
Answers
Banks and other financial institutions can best manage interest rate risk by matching the durations of their assets and liabilities (Option C).
Financial institutions, such as banks, face interest rate risk due to the fluctuation of interest rates over time. This risk can affect their profitability and financial stability. To manage this risk effectively, it is essential for these institutions to align the durations of their assets (e.g., loans, investments) and liabilities (e.g., deposits, borrowings).
By matching the durations of assets and liabilities, financial institutions can mitigate the impact of interest rate fluctuations on their net interest income. When the durations are matched, changes in interest rates will have a proportional effect on both the assets and liabilities, minimizing the overall risk exposure.
If a financial institution were to follow Option A or B, they could expose themselves to higher risk levels as the difference in duration between assets and liabilities would amplify the impact of interest rate fluctuations.
Option D, matching the maturities of assets and liabilities, may not be sufficient to manage interest rate risk effectively, as the sensitivity to interest rate changes may differ even if maturities are the same.
In summary, by matching the durations of their assets and liabilities, financial institutions can better manage interest rate risk, ensuring a more stable net interest income and enhancing their financial stability.
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What happens to an inferior good when income decreases?
Answers
When incomes drop or the economy weakens, the demand for subpar goods rises. When this occurs, inferior good alternatives to more expensive goods are made available.
Explain about the inferior good?In economics, when income rises or the economy grows, the demand for subpar products declines.
Customers will be more likely to spend money on more expensive alternatives when this occurs. This change may be the result of various factors, such as quality or a movement in the socioeconomic level of the consumer.Everything that a consumer would purchase less of even with an independent certification of real income is considered an inferior item, which is the polar opposite of a normal good. They might also be connected to people who are typically from lower socioeconomic classes.In contrast, when earnings drop or the economy weakens, the demand for subpar goods rises.
Thus, when this occurs, less priced alternatives to more expensive goods are made available.
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As the FDA uses ______ time and resources to ensure the safety of new drugs,
_________.
A) more; more people will die from taking unsafe drugs
B) less; fewer people will die waiting for access to life-saving medicine
C) more; fewer people will die waiting for access to life-saving medicine
D) less; fewer people will die from taking unsafe drugs
Answers
As the FDA (U.S. Food and Drug Administration) uses more time and resources to ensure the safety of new drugs, fewer people will die waiting for access to life-saving medicine. Hence, Option (C) is correct.
By conducting comprehensive reviews, including preclinical and clinical trials, the FDA can identify potential risks, adverse effects, and drug interactions more effectively.
This meticulous approach ensures that only safe and effective medications receive approval for public use.
Consequently, when the FDA invests more time and resources into ensuring drug safety, fewer people will experience harm from taking unsafe drugs.
Additionally, this careful evaluation process helps expedite access to life-saving medicines by preventing the approval of drugs with significant safety concerns, thus reducing the waiting time for individuals in need of vital treatments.
Thus, FDA using more time and resources to ensure the safety of new drugs ultimately leads to fewer people experiencing harm from unsafe medications and waiting for access to life-saving medicines.
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Why is Feeney called a hero/saint?
Answers
Answer:
In 1982, he decided he would commit to giving away his billions during his lifetime. He is broke now. Gave away and donated over $8million. His motto was "giving while living "
Explanation:
why do business need funding
Answers
ms. adair, a single individual, has $218,000 agi, which includes $43,000 net investment income. compute ms. adair's unearned income medicare contribution tax. multiple choice $0 $684 $817 $1,634
Answers
Based on the information provided, Ms. Adair's unearned income Medicare contribution tax would be $684.
This is calculated by taking her net investment income of $43,000 and subtracting the threshold for an individual taxpayer of $200,000. This leaves a taxable amount of $23,000, which is then multiplied by the contribution tax rate of 2.9%. This results in a tax liability of $667.20, which is rounded up to $684.
Therefore, the correct answer is option B: $684.
Ms. Adair's Unearned Income Medicare Contribution Tax, please follow these steps:
1. Determine her Modified Adjusted Gross Income (MAGI) - In this case, her AGI is $218,000.
2. Determine the applicable threshold for her filing status - As a single individual, the threshold is $200,000.
3. Calculate the amount of MAGI exceeding the threshold - $218,000 (MAGI) - $200,000 (threshold) = $18,000.
4. Determine her Net Investment Income - In this case, it is $43,000.
5. Identify the lesser amount between the excess MAGI and the Net Investment Income - In this case, it is $18,000.
6. Multiply the lesser amount by the 3.8% Contribution Tax rate - $18,000 * 0.038 = $684.
Ms. Adair's Unearned Income Medicare Contribution Tax is $684.
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"Professional education and vocational training are the foundation
for the overall development of a nation". Justify this statement with
suitable examples.
?
Answers
Answer:
Professional education and vocational training are the foundation for the overall development of a nation because, by training people in the different careers and jobs that they will develop throughout their lives, this in turn is generating a series of people specialized in different labor fields that will benefit from one or the other it shapes society as a whole. Therefore, through this specific education in labor matters, future progress and well-being are generated for citizens.
individual customer balances owed to us can be found in the a/p subsidiary ledger, and the sum of these balances should equal the balance in the a/r general ledger control account
Answers
Yes, that's correct. The accounts payable (A/P) subsidiary ledger contains detailed information about individual customer balances owed to your company. Each customer's outstanding balance is recorded separately in the subsidiary ledger.
The accounts receivable (A/R) general ledger control account, on the other hand, represents the total balance of all customer receivables in the general ledger. It serves as a summary account that provides an overall view of the accounts receivable balance.
To ensure accuracy and maintain proper internal controls, the sum of the individual customer balances in the A/P subsidiary ledger should equal the balance in the A/R general ledger control account. This reconciliation helps identify any discrepancies or errors that may occur in recording customer transactions.
Regular reconciliations between the A/P subsidiary ledger and the A/R general ledger control account are important to maintain the integrity of financial records and ensure that all customer balances are accurately represented.
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What's an NFT AND NO LINKSSS!!!!!!!!!!!!!!!!
Answers
NFT stands for
Non-fungible token
Answer:
A NFT is a non-fungible token. People buy them to have perks to socials parties' or even upcoming NFT sneak peaks. Also, people buy them for their value and scared items. People can also sell them for ETH, a type of crypto currency.
Explanation:
Which of the following characteristics describe Millennial employees, in general?
A. Hesitant to question their superiors.
B. Globally conscious.
C. Less educated than their peers.
D. Technologically inept.
E) Hesitant to challenge the status quo.
Answers
Answer:
B. Globally conscious.
Explanation:
Millenials are the generation of people born in the 80s and 2000s, and represent people who were born at a time when technology and the internet were strengthened, which caused a revolution in the form of social interactions around the world.
The internet revolutionized business, due to the speed in the exchange of information, it was possible for business to expand and integrate, which generated globalization, which is the interaction of businesses between countries in search of competitive and strategic advantages in the global market.
Therefore, it is correct to say that the generation of millennials are more globally aware employees, due to the fact that they have grown up in a cultural and social environment marked by the use of the internet and the availability of information, which makes them more aware about business. global interactions, multicultural interactions and more possibilities to understand the market and contribute to its development.
Which characteristic of cash makes it especially susceptible to theft and
fraud?
Answers
The characteristic of cash makes it especially susceptible to theft and fraud is a liquidity
What is liquidity?Liquidity makes cash susceptible this is because it can easily be used to purchase asset.
Money can be liquidated by converting it into goods or materials for human use.
Therefore, The characteristic of cash makes it especially susceptible to theft and fraud is a liquidity
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Answer: Its lack of a paper trail
Explanation: trust me on this i just did the test
One of the major trends in the lodging sector is that organizations are becoming more international.
O False
O True
Mark this and return
Save and Exit
Nex
Subm
Answers
One cost of starting your own business is
A. Loan payments on a small business loan
B. Escrow
C. Revenue
D. PMI
Answers
Answer:
A. Loan payments on a small business loan
Explanation:
One cost of starting your own business is loan payments on a small business loan.
Causes of deflation (essay answer)
Answers
In the united states what is the significance of April 15
Answers
Answer:
Hope it helps
have a good day Ahead
April 15th of the United States is Tax day
Money you pay up front to reduce the amount you will owe is called a
A. fixed loan
B. late payment
C. down payment
D. short-term loan
Answers
Answer:
down payment
Explanation:
A down payment is money paid upfront in a financial transaction, such as the purchase of a home or car. Buyers often take out loans to finance the remainder of the purchase price.
Answer:
down payment
Explanation:
Internships are usually paid.
True or False
Answers
Answer:
Depending on you're position. Can not be paid
Explanation:
Although Many Employee's do pay their interns, and some of there companies recognize the value in training for somebody became an after they finished college.
What does the stock market drive companies to do?
Answers
Answer:
It drives companies to push themselves to increase their market value, and make sure all the companies news is relevant and important.
Explanation:
The stock market is an online exchange where prices are put together and people make different trades. The stock market drives them to increase their earnings and ultimately the price per share of their stock.
What did adam smith believe about about self-interest, private property, the role of government, and competition in the economy?.
Answers
Adam Smith was of the opinion that self-interest is important because it determines a competitive economy and allows all individuals to perform their best to increase their own personal gain.
Who is Adam Smith?Adam Smith was a Scottish economist and philosopher who was a pioneer of political economy and key figure during the Scottish Enlightenment.
Therefore, Adam Smith believes self-interest is important. It determines a competitive economy and allows all individuals to improve their own personal gain.
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Why does the demand curve facing a monopolistically competitive firm slope downward in the long run, even after the entry of new firms?
Answers
Answer:Firms will face perfectly elastic demand curves only if their products are perfect substitutes for the products of other firms.
Explanation:
Answer:Why does the demand curve facing a monopolistically competitive firm slope downward in the long run, even after the entry of new firms?
Explanation:
What the Benefits of SMART TRAFFIC MANAGEMENT SYSTEM in iot
?
please in the beginning small paragraph
Answers
Smart Traffic Management Systems in IoT optimize traffic flow, enhance safety, and reduce congestion through real-time monitoring, incident detection, and data analysis.
Smart Traffic Management Systems leverage the power of IoT to revolutionize transportation management. Real-time monitoring of traffic conditions enables dynamic adjustments to traffic signal timings, ensuring optimized traffic flow and reducing congestion. By utilizing IoT sensors and cameras, these systems can detect incidents such as accidents, breakdowns, or congestion, allowing for immediate responses and appropriate interventions, such as redirecting traffic or dispatching emergency services. Furthermore, the collected data from various sources, including sensors and vehicles, can be analyzed to identify traffic patterns, bottlenecks, and peak hours.
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discuss 4 contributing factors that lead to poor service delivery. and corruption
Answers
The factors like democracy, poor leadership, lack of communal participation and inefficient strategic management lead to poor service delivery and corruption.
What is service delivery?The process of providing service to the customer or subscriber, by whatever name called, who is being supplied with such services by the provider, is known as a service delivery.
Hence, the significance of service delivery is as aforementioned.
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a.) TTM: 15 years. YTM: 7%. C: 7%. PV: 2 1b.) TTM: 10 years. YTM: 7%. C: 7%. PV:? Ic.) TTM:5 years. YTM: 7%. C: 7%. PV:? 2a.) TTM: 15 years. YTM: 9% C: 7%. PV:? 2b.) TTM: 10 years. YTM: 9%. C: 7%. PV:7 2c.) TTM: 5 years. YTM: 9%. C: 7%. PV: ? 3a.) TTM: 15 years. YTM: 5%. C: 7%. PV:7 3b.) TTM: 10 years. YTM: 5%. C: 7%. PV: ? 3c.) TTM: 5 years. YTM: 5%. C: 7%. PV: 7 Questions for Problems 1 3 a.) What happens to the price of par, discount, and premium bonds as the remaining maturity declines? Note that the YTM remains unchanged. Only the remaining maturity changes. b,) Explain why prices move this way. IT
Answers
The questions for Problems 1-3 involve bond pricing and the relationship between remaining maturity and bond prices.
Bonds are debt securities that are issued by governments, corporations, and other entities to raise funds from investors. Bonds have a stated maturity date, which is the date on which the bond principal will be repaid to the investor. The bond's price is determined by a number of factors, including the bond's coupon rate, its yield to maturity (YTM), and the remaining time to maturity.
In the given problems, the coupon rate is fixed at 7%, while the YTM varies. In general, as the remaining time to maturity declines, the price of a bond will move toward its face value if the bond was issued at par.
If the bond is trading at a discount (i.e., the price is below face value), then the price will increase as the remaining time to maturity declines. Conversely, if the bond is trading at a premium (i.e., the price is above face value), then the price will decrease as the remaining time to maturity declines.
This pattern occurs because as the remaining time to maturity declines, the bond's cash flows become more certain and the risk of default decreases. Therefore, investors are willing to pay more for a bond that is closer to maturity and has less risk. Similarly, a bond that has a longer time to maturity has more uncertainty, and investors demand a higher yield to compensate them for the added risk.
In summary, the price of a bond is influenced by a number of factors, including the coupon rate, YTM, and remaining time to maturity. As the remaining time to maturity declines, the price of a bond tends to move toward its face value, or in the case of a discount bond, the price will increase, while in the case of a premium bond, the price will decrease.
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